2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515 - INSURANCE OTHER THAN LIFE
515.24 - TAX -- COMPUTATION.

        515.24  TAX -- COMPUTATION.
         For the purpose of determining the basis of any tax upon the
      "gross amount of premiums", or "gross receipts from premiums,
      assessments, fees, and promissory obligations", now or hereafter
      imposed upon any fire or casualty insurance company under any law of
      this state, such gross amount or gross receipts shall consist of the
      gross written premiums or receipts for direct insurance, without
      including or deducting any amounts received or paid for reinsurance
      except that any company reinsuring windstorm or hail risks written by
      county mutual insurance associations shall be required to pay as a
      tax the applicable percent provided in section 432.1, calculated upon
      the gross amount of reinsurance premiums received upon such risks,
      but with such other deductions as provided by law, and in addition
      deducting any so-called dividend or return of savings or gains to
      policyholders; provided that as to any deposits or deposit premiums
      received by any such company, the taxable premiums shall be the
      portion of such deposits or deposit premiums earned during the year
      with such deductions therefrom as provided by law.  

         Section History: Early Form

         [C24, 27, 31, 35, 39, § 8916; C46, 50, 54, 58, 62, 66, 71, 73,
      75, 77, 79, 81, § 515.24] 

         Section History: Recent Form

         2002 Acts, ch 1119, §181; 2006 Acts, ch 1117, §66